highest moly grades in world

Punters don't know Moly deposits like they do gold. It will take a little while for people to absorb the report and what it means. But I can tell you there are no operating Moly mines with grades anywhere near this desposit.

It needs to be increased beyond 33MT of course but there appears to be confidence to do that. You can see why Rio kept it for so long but have sold it because it isn't big enough for a global miner.

This is similar to Rio finding 3 Million ounces of gold at oustanding grades, it just isn't big enough for Rio (they need 5 - 10Million ounces so they sell it to a smaller company which is delighted with the size.

I like the noise about copper as well. Most of these ore bodies have copper credits which pay for the overheads.

In case you don't know, Molybdenum is the metal of the 21st Century. Sells for $US33lb now, up from about $US2lb only 4 - 5 years ago. Its used as a highly importnat alloy to steel, Hardner of steel, corrossion resistence (oil pipes), catalyst (motor car catalytic converters), Heat resistence (used in furnace steel and nuclear reactors)

This is an outstanding acquisition. The grades are out of this world